China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Up 77.2% in August

China BAK Battery, Inc. (NASDAQ:CBAT) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 558,703 shares, a growth of 77.2% from the July 30th total of 315,302 shares. Based on an average trading volume of 415,059 shares, the short-interest ratio is currently 1.3 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC grew its stake in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,536 shares of the electronics maker’s stock after acquiring an additional 28,411 shares during the period. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent reporting period. Institutional investors own 1.97% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

China BAK Battery Price Performance

CBAT opened at $0.93 on Monday. The business has a fifty day moving average of $0.63 and a 200 day moving average of $0.77. China BAK Battery has a 52-week low of $0.46 and a 52-week high of $1.24. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. The stock has a market cap of $82.45 million, a P/E ratio of -5.17 and a beta of 1.35.

About China BAK Battery

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.